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    <shrsOrPrnAmt>
      <sshPrnamt>6190</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6190</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Tenet Healthcare Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88033g100</cusip>
    <value>220000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1250</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>The Cigna Group</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>125523100</cusip>
    <value>6546806</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19804</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19804</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>The Mosaic Company</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>61945c103</cusip>
    <value>2194269</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60150</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>60150</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>The Travelers Companies Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89417e109</cusip>
    <value>11551039</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43175</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>43175</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>The Walt Disney Co.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>254687106</cusip>
    <value>1791076</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14443</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14443</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>US Bancorp Delaware New</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>902973304</cusip>
    <value>588657</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13009</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13009</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Union Pacific Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>907818108</cusip>
    <value>1992493</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8660</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8660</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Parcel Service Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>911312106</cusip>
    <value>1604480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15895</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15895</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UnitedHealth Group Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>91324p102</cusip>
    <value>20138348</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64552</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>64552</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unum Group</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>91529y106</cusip>
    <value>4648869</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57564</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>57564</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valero Energy Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>91913y100</cusip>
    <value>7642702</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56857</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>56857</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Verizon Communications</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92343V104</cusip>
    <value>1361837</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31473</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>31473</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Visa, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92826c839</cusip>
    <value>14160459</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39883</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>39883</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wal Mart Stores</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>931142103</cusip>
    <value>13988505</value>
    <shrsOrPrnAmt>
      <sshPrnamt>143061</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>143061</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Warner Bros. Discovery, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>934423104</cusip>
    <value>839984</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73297</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>73297</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Washington Federal</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>938824109</cusip>
    <value>3833133</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130913</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>130913</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Waste Management Inc. Del</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>94106L109</cusip>
    <value>367714</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1607</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1607</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wells Fargo &amp; Co.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>949746101</cusip>
    <value>2533955</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31627</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>31627</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Western Union Company</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>959802109</cusip>
    <value>147619</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17532</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17532</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Weyerhaeuser Co.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>962166104</cusip>
    <value>254074</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9890</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9890</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Yum! Brands, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>988498101</cusip>
    <value>1607012</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10845</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10845</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zimmer Biomet Holdings</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98956p102</cusip>
    <value>5812631</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63728</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>63728</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AON Plc</nameOfIssuer>
    <titleOfClass>FOR</titleOfClass>
    <cusip>g0403h108</cusip>
    <value>1415267</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3967</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3967</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ASML Holding N.V.</nameOfIssuer>
    <titleOfClass>FOR</titleOfClass>
    <cusip>n07059210</cusip>
    <value>535329</value>
    <shrsOrPrnAmt>
      <sshPrnamt>668</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>668</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alibaba Group Holding Limited</nameOfIssuer>
    <titleOfClass>FOR</titleOfClass>
    <cusip>01609w102</cusip>
    <value>1065941</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9399</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9399</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alimentation Couche Tard Inc.</nameOfIssuer>
    <titleOfClass>FOR</titleOfClass>
    <cusip>01626p148</cusip>
    <value>439314</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8850</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alkermes PLC</nameOfIssuer>
    <titleOfClass>FOR</titleOfClass>
    <cusip>g01767105</cusip>
    <value>333049</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11641</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11641</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Allegion PLC</nameOfIssuer>
    <titleOfClass>FOR</titleOfClass>
    <cusip>g0176j109</cusip>
    <value>513932</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3566</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3566</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>America Movil ADR</nameOfIssuer>
    <titleOfClass>FOR</titleOfClass>
    <cusip>02390a101</cusip>
    <value>1371782</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76465</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>76465</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arch Capital Group Ltd</nameOfIssuer>
    <titleOfClass>FOR</titleOfClass>
    <cusip>g0450a105</cusip>
    <value>1004281</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11030</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11030</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arcos Dorados Hldgs.</nameOfIssuer>
    <titleOfClass>FOR</titleOfClass>
    <cusip>g0457f107</cusip>
    <value>2606659</value>
    <shrsOrPrnAmt>
      <sshPrnamt>330375</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>330375</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BP p.l.c.</nameOfIssuer>
    <titleOfClass>FOR</titleOfClass>
    <cusip>055622104</cusip>
    <value>5410057</value>
    <shrsOrPrnAmt>
      <sshPrnamt>180757</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>180757</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>British American Tobacco</nameOfIssuer>
    <titleOfClass>FOR</titleOfClass>
    <cusip>110448107</cusip>
    <value>10598039</value>
    <shrsOrPrnAmt>
      <sshPrnamt>223918</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>223918</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAE Inc.</nameOfIssuer>
    <titleOfClass>FOR</titleOfClass>
    <cusip>124765108</cusip>
    <value>1517064</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51830</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>51830</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Colliers International Group</nameOfIssuer>
    <titleOfClass>FOR</titleOfClass>
    <cusip>194693107</cusip>
    <value>934666</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7160</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7160</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diageo PLC ADR</nameOfIssuer>
    <titleOfClass>FOR</titleOfClass>
    <cusip>25243q205</cusip>
    <value>1218853</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12087</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12087</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enbridge Inc.</nameOfIssuer>
    <titleOfClass>FOR</titleOfClass>
    <cusip>29250n105</cusip>
    <value>215904</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4764</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4764</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FirstService Corp Voting Share</nameOfIssuer>
    <titleOfClass>FOR</titleOfClass>
    <cusip>33767e202</cusip>
    <value>1200163</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6873</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6873</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Glaxo SmithKline ADS</nameOfIssuer>
    <titleOfClass>FOR</titleOfClass>
    <cusip>37733W204</cusip>
    <value>1096013</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28542</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>28542</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Haleon PLC</nameOfIssuer>
    <titleOfClass>FOR</titleOfClass>
    <cusip>405552100</cusip>
    <value>398716</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38449</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <sshPrnamt>111819</sshPrnamt>
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    <titleOfClass>FOR</titleOfClass>
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      <sshPrnamt>9743</sshPrnamt>
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      <Sole>9743</Sole>
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      <None>0</None>
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